Oct 25, 2005. /Lesprom Network/. Net income per share was $0.58, after tax-related effects that reduced earnings by $0.09 per share. In the third quarter of 2004, net income per share was $0.33, after net income was reduced by restructuring charges of $0.06 per share and a tax valuation allowance of $0.03 per share. On a fully diluted basis, net income per share was $0.57, compared to $0.32 per share in the same period last year. - Net sales were $242.3 million, an increase of 8.7% compared to the same period last year and an increase of 6.5% excluding the effect of changes in currency translation rates. Operating income improved to $30.8 million in the quarter, compared to $21.5 million in the same period last year. Operating income in the third-quarter of 2004 included restructuring charges of $2.6 million. Net cash provided by operating activities was $46.6 million, after a $10 million contribution to the Company's United States pension plan during the quarter. In the same period last year, net cash provided by operating activities was $24.9 million, after a $20 million contribution to the pension plan. During the third quarter, the company reduced its debt by $76.1 million, while cash decreased $41.4 million. Chairman and chief executive officer Frank Schmeler commented, "We are pleased with the operating results for the quarter, which reflect sales growth and the effects of our continued focus on efficiency improvements. Our paper and paperboard customers experienced swings in demand by region and paper grade; however, demand for our products improved in Europe and remained strong in other regions. Although market conditions in our Albany Door Systems segment were mixed, with slow economic growth continuing to affect our customers in Europe, demand for our products in the Applied Technologies segment remained strong. As compared to the third quarter of last year, sales increased in both segments." Albany International is the world's largest producer of paper machine clothing and high-performance doors with manufacturing plants strategically located to serve its global customers.